Dealmakers at The Riverside Company had extra cause to kick back over the Easter break as promotions flew like confetti and the team closed a significant bolt-on acquisition for portfolio company Virtual IT Group.
The cybersecurity firm snapped up Sydney-headquartered rival Security Centric in the days leading up to the long weekend, Street Talk can reveal. The deal is slated to scale the managed services powerhouse into a $200 million-plus annual revenue business and expand its footprint. Virtual IT bought Auckland-based The Instillery last year for an undisclosed amount.
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